Robinhood Announces Integration with Popular Altcoin! - Coin Newsletter

World-renowned investment platform Robinhood has integrated Ethereum-based layer 2 (L2) project Arbitrum (ARB) into its payment system.

Robinhood Wallet, owned by investment platform Robinhood, has announced that it has integrated Arbitrum for cryptocurrency swaps.

Speaking to The Block, Johann Kerbrat, managing director of Robinhood Crypto, noted that beta tests on Arbitrum have been available for several weeks and are available to the public as of Feb. 29.

In a statement made by Robinhood Wallet on the subject, it was stated that Arbitrum's advanced scaling solutions will be beneficial for their ecosystem and users:

By providing access to Arbitrum's advanced scaling solutions, Robinhood Wallet users can now take advantage of low transaction costs and fast transaction speeds on one of the most popular networks in the crypto ecosystem.

Robinhood Wallet currently supports networks such as Ethereum (ETH), Polygon (MATIC), and Dogecoin (DOGE).

According to data from CoinGecko, the ARB gained 6% from $1.93 to $2.05. ARB is trading at $1.97 at the time of writing.